India's Adani Group proposes $2 billion seaport in Vietnam

May 26, 2023 | 09:00

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The Indian-based conglomerate Adani Group has proposed developing a $2 billion seaport in Vietnam, while also investing in wind and solar power plants.

India's Adani Group proposes $2 billion seaport in Vietnam

Adani Group proposes development of $2 billion seaport (Illustration image)

Anadi plans to invest in technical infrastructure for the Lien Chieu Port in the central city of Danang to handle general, bulk, liquid, and gaseous cargo, along with containers.

At a meeting with the Minister of Transport Nguyen Van Thang on May 24, CEO of Adani Ports and SEZ Ltd. Karan Adani said that the group spent time exploring opportunities in Vietnam and decided to make long-term commitments in the country, not only in terms of ports and logistics but also for energy and digital technology.

In accordance with Vietnam's development strategy, Adani aims to build an eco-friendly port ecosystem and invest in on-site wind and solar power plants with a total capital of about $10 billion.

The group hopes to receive the support of the Ministry of Transport to translate the project into reality as quickly as possible.

On the same day, the Indian CEO had a meeting and signed an MoU with the Vietnam Maritime Corporation on the cooperation strategy for port and logistics development.

The group has had the intention to develop Lien Chieu Port for a long time, and in June 2022, it announced its plan to cooperate with Anh Phat Investment Construction and Trading JSC.

This project is expected to handle ships with a capacity of 100,000DWT and container ships of up to 8,000TEU. The total cargo should hit 3.5-5 million tonnes per year.

Adani is the biggest economic conglomerate in India, operating in various sectors such as ports, transportation, logistics, energy, and digital technology in over 50 countries worldwide.

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By Ha Vy

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